Spain: unions and Telefónica management agree on 6,500 job cuts over 3 years

Publication

8 July 2011 à 07h28

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4 minutes

Publication: 8 July 2011 à 07h28

Reading time: 4 minutes

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Unions agreed to the 3-year employment reduction program (ERE) affecting up to 6,500 employees.  The company accepted to improve its initial offer and will pay employees who leave 68% of their salary (instead of 66% in the initial offer) until they reach early retirement.  These terms are slightly below the 70% granted for the previous voluntary leave programs.  The company commits itself to compensating leaves by recruitments, up to 7% of the number of employees gone, i.e. 455 recruitments tops.
Publication

8 July 2011 à 07h28

Reading time

4 minutes

Publication: 8 July 2011 à 07h28

Reading time: 4 minutes

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ployment reduction program (ERE) affecting up to 6,500 employees. The company accepted to improve its initial offer and will pay employees who leave 68% of their salary (instead of 66% in the initial offer) until they reach early retirement. These terms are slightly below the 70% granted for the previous voluntary leave programs. The company commits itself to compensating leaves by recruitments, up to 7% of the number of employees gone, i.e. 455 recruitments tops.

Individual program of volunt

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